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IRS Targets Groups of Taxpayers In Connection With Non-Comp

Tax compliance is a serious issue, and with the recent FATCA updates, the government is more thorough than ever before in identifying non-compliant taxpayers among individuals who live overseas. In past years, taxpayers who were suspected of fraud were primarily targeted for investigation on an individual basis. Now however, the IRS is going after entire groups of people who are suspected of non-compliance.

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IRS Targets Groups of Taxpayers In Connection With Non-Comp

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  1. IRS Targets Groups of Taxpayers In Connection With Non-Compliance Freeman Tax Law (855)935-5945

  2. Tax Compliance Is a Serious Issue Tax compliance is a serious issue, and with the recent FATCA updates, the government is more thorough than ever before in identifying non-compliant taxpayers among individuals who live overseas. In past years, taxpayers who were suspected of fraud were primarily targeted for investigation on an individual basis. Now however, the IRS is going after entire groups of people who are suspected of non-compliance. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  3. John Doe Summonses Approved A recent example of this is when a federal judge approved the IRS issuing a John Doe summonses on FedEx, DHL, UPS, and other shipping companies to provide information regarding clients of Sovereign Management & Legal Ltd. Sovereign Management and Legal Ltd is suspected of helping U.S. taxpayers living abroad avoid taxes. The summonses enable the IRS to gather the names and information of U.S. citizens who used FedEx, UPS, and DHL to communicate with Sovereign Management and Legal Ltd and Western Union to transfer funds in order to determine the identity of unknown persons who might be avoiding U.S. taxes. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  4. This recent act shows that the IRS is more serious than ever about identifying individuals who are avoiding U.S. taxes. The John Doe summons now allows the government to secure names and information on an entire group of taxpayers rather than just one or two individuals at a time. Each summons must be approved by a federal judge, but the precedent has now been set and may continue if the summonses prove to be successful. John Doe Summonses Approved (Continued) Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  5. Voluntary Disclosure Options The U.S. government has provided taxpayers with multiple ways to disclose unpaid taxes in a way that reduces penalties and the chance of facing criminal charges. Through the Offshore Voluntary Disclosure Program (OVDP) taxpayers can disclose foreign accounts and assets and agree to pay all back taxes in full in addition to applicable penalty fees including a 20% fee on the full amount owed and an additional fee based on the total of the largest offshore account up to 50% in some cases. However, once all taxes and penalties have been paid, the individual is protected from further criminal charges. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  6. Voluntary Disclosure (Continued) Another program available to U.S. taxpayers living abroad is the Foreign Streamlined Program. Under this program, individuals must certify that their behavior was non-willful and must meet specific eligibility criteria. Once approved, taxpayers within this program are not help subject to further financial penalties. If you suspect you owe additional taxes to the IRS regarding overseas accounts, it is important to seek professional legal guidance from a tax attorney. A tax law firm can represent clients before the IRS and assist with submitting all necessary documentation for OVDP or Foreign Streamlined Program. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  7. Our Locations Atlanta, Georgia Austin, Texas Birmingham, Michigan Boston, Massachusetts Charlotte, North Carolina Chicago, Illinois Cleveland, Ohio Dallas, Texas Denver, Colorado Greenwich, Connecticut Houston, Texas Irvine, California Las Vegas, Nevada Los Angeles, California Miami, Florida New York, New York Palo Alto, California Phoenix, Arizona Pleasanton, California San Antonio, Texas San Diego, California San Francisco, California San Jose, California Short Hills, New Jersey Tampa, Florida Washington DC International Locations: Basel, Switzerland Bern, Switzerland Geneva, Switzerland Zurich, Swizterland Freeman Tax Law  (855) 935-5945 info@freemantaxlaw.comwww.freemantaxlaw.com

  8. Freeman Tax Law About Freeman Tax Law Freeman Tax Law is a boutique tax law firm with national exposure equipped to handle all domestic and international tax law matters. At Freeman Tax Law, the attorneys and professional staff have vast experience with foreign tax compliance, international tax planning, and resolving tax controversies involving offshore banking matters. Freeman Tax Law helps taxpayers and foreign entities become in compliance with laws such as Foreign Account Tax Compliance Act (FATCA) and Offshore Voluntary Disclosure Program (OVDP). In addition to handling complex tax controversies, the Freeman Tax Law team has extensive expertise in assisting clients with wealth management and estate planning. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

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